June 19, 2019 / 4:53 PM / 5 months ago

BUZZ-Methanex Corp: TPH cuts Q2 profit estimate, shares fall

** Tudor Pickering, Holt & Co cuts chemicals producer Methanex Corp’s Q2 profit estimate

** Cuts Q2 2019 EPS estimate to 25 cents from 55 cents, citing Egypt facility outage, pressures on capture rate and higher costs

** TPH says as Egypt plant remains off-line, MEOH will likely have trouble making up the volumes in other areas

** Brokerage maintains “hold” rating, with $51 PT

** 6 of 15 brokerages rate the stock “buy” or higher, 7 “hold” and 2 “sell” or lower; their median PT is $61

** U.S.-listed shares down 5.3% YTD (Reporting By Arundhati Sarkar in Bengaluru)

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